Obsidian Energy (OBE) Upgraded to Speculative Buy by Canaccord Genuity

Obsidian Energy (TSE:OBE) was upgraded by analysts at Canaccord Genuity from a “hold” rating to a “speculative buy” rating in a research report issued to clients and investors on Tuesday.

A number of other analysts also recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Obsidian Energy from C$1.45 to C$1.70 and gave the stock a “sector perform” rating in a report on Monday, November 13th. National Bank Financial lifted their price objective on shares of Obsidian Energy from C$1.50 to C$2.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 9th. Raymond James Financial lowered their price target on shares of Obsidian Energy from C$2.00 to C$1.75 in a research note on Monday, February 5th. AltaCorp Capital raised shares of Obsidian Energy from a “sector perform” rating to an “outperform” rating in a research note on Monday, November 13th. Finally, Barclays lowered their price target on shares of Obsidian Energy from C$2.00 to C$1.50 in a research note on Monday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of C$1.88.

Obsidian Energy (TSE:OBE) traded up C$0.02 during midday trading on Tuesday, hitting C$1.18. 565,001 shares of the stock were exchanged, compared to its average volume of 731,645. Obsidian Energy has a 52 week low of C$1.03 and a 52 week high of C$2.36. The company has a market cap of $585.04, a P/E ratio of -2.29 and a beta of 4.19.

Obsidian Energy (TSE:OBE) last posted its quarterly earnings data on Friday, November 10th. The company reported C($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.06) by C($0.03). Obsidian Energy had a negative return on equity of 7.86% and a negative net margin of 51.16%.

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Obsidian Energy Company Profile

Obsidian Energy Ltd. explores for, develops, and produces oil and natural gas properties in western Canada. It primarily holds interest in the Cardium Resource Play that covers an area of approximately 400 net sections of developed and undeveloped land located in west central Alberta; Peace River Resource Play covering an area of 235 net sections of developed and undeveloped land located in northwestern Alberta; and Viking Resource Play that covers an area of approximately 170 net sections of developed and undeveloped land located in north-central Alberta.

Analyst Recommendations for Obsidian Energy (TSE:OBE)

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